Lamberts Point was named for Thomas Lambert, who patented 100 acres (400,000 m²) there on the east side of the "Bay" of the Elizabeth River on June 1, 1635, when the territory was still a part of Elizabeth River Shire in colonial Virginia. Lambert was an ensign in the Lower Norfolk County Militia by 1640 and was later a major in the same outfit. He was later a member of the Assembly at Jamestown for Lower Norfolk County in 1652, and by the time of his death in 1671 he was the proud bearer of the title Lieutenant Colonel Thomas Lambert. Lamberts Point was located in Norfolk County when that county was formed from Lower Norfolk County in 1691.
Lamberts Point is the home of Norfolk Southern's Pier 6, the largest and fastest coal exporting facility in the Northern Hemisphere. The facility's annual throughput capacity is rated at 48 million tons. In 1886, the N&W tracks were extended directly to the new coal piers at Lamberts Point upon their completion. A residential section was also developed to house the families of the workers. Many early residents of Lamberts Point were involved in the coal industry. By 1900, Norfolk was the leading coal exporting port on the East Coast. The area including Lamberts Point was annexed by the City of Norfolk in 1911.
For many years, the Truck Office was run by Tom Cole.
The United States Navy maintains the Lamberts Point Deperming Station, a magnetic silencing station located in the Elizabeth River off Lamberts Point. It is used by Navy ships to reduce their magnetic signature, making them less vulnerable to certain types of mines.